| The Small Business Administration (SBA)
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| | they contract with private lending
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| is the first place every start-up
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| | institutions in every State. A loan
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| business person and entrepreneur thinks
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| | guarantee from SBA gives a bank the added
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| they should go for small business grants.
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| | security it needs to lend you money. If
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| There is good and bad news on this: Yes,
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| | the borrower's business doesn't get off
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| it is a great first place to go when you
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| | the ground as quickly as planned and the
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| are starting your business because they
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| | business ends up defaulting on the loan
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| provide free counseling and financial
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| | the SBA will repay all or part of the
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| assistance, however, the SBA itself does
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| | loan - usually about 40% of the loan will
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| not hand out free grant money to start or
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| | be guaranteed.
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| expand a business. Anyone who tells you
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| | This type of financial assistance may not
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| otherwise is mistaken, or pulling your
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| | be as good as free grant money, but if it
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| leg.
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| | is money you can actually get your hands
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| The SBA is an independent agency of the
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| | on reasonably quickly, on decent terms,
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| federal government and its purpose has
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| | and the repayment schedule can fit within
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| remained the same since its creation in
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| | your budget, then it's a great deal and
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| 1953. According to their website the
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| | probably your best option as far as
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| purpose of the SBA is "To aid, counsel,
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| | financial assistance from the Small
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| assist and protect the interests of small
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| | Business Administration. If you need a
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| business concerns, to preserve free
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| | line of credit at any point in your
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| competitive enterprise and to maintain
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| | business start-up or expansion, be sure
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| and strengthen the overall economy of our
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| | to check out these SBA resources. Keep in
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| nation." The primary way in which the SBA
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| | mind that even if in the past you have
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| does this is not by providing grants, but
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| | been unable to borrow money elsewhere, it
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| by administering low interest loans, or
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| | doesn't mean you won't be able to get
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| loan guarantees, which give small
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| | business financing now. A loan guarantee
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| business owners like you access to
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| | from SBA will help you secure financing
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| start-up money from private lenders all
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| | when it would otherwise be unobtainable
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| over the nation. These are loans that you
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| | based on your credit, perceived ability
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| might not otherwise be able to get
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| | to repay the loan and other factors. They
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| without the guarantee from the small
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| | also have programs and ways of
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| business administration. The SBA does not
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| | streamlining the application procedures
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| directly provide you with small business
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| | necessary to provide financial assistance
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| financing, they are an intermediary and
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| | to the small business community.
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